Blanking tools are presently used in conjunction with a press plate holder which has a standard tapped hole pattern. This hole pattern is jig drilled into the backing plate of the blanking tools to provide for alignment of the punch and die when they are fastened to the upper and lower half of the press plate holder. Since this standard hole pattern is repeated at regular intervals to accommodate several sizes of blanking tools, operator care is required to assure that the matching hole pattern is used on both the upper and lower faces of the press plate holder. Attaching the blanking tool to the press plate holder is a relatively time consuming operation and requires that the operator observe all safety standards since it is a "hands in die area" operation. After attaching the blanking tool to the holder, the press stroke must be adjusted to provide for proper entrance of the punch into the die. Since the two halves of the blanking tool are fastened to the press platen and the press ram, the open distance will be equal to the press stroke length of the particular press it is being used in, generally four inches or more. This is also a requirement to allow the operator to reach in and remove the part from the scrap skeleton; another "hands in die area" operation.